The Macerich Company (NYSE:MAC) Forecasted to Earn Q4 2024 Earnings of $0.55 Per Share

The Macerich Company (NYSE:MAC - Free Report) - Research analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for Macerich in a research report issued on Tuesday, April 2nd. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $0.55 for the quarter, up from their prior forecast of $0.54. The consensus estimate for Macerich's current full-year earnings is $1.81 per share. Zacks Research also issued estimates for Macerich's FY2025 earnings at $1.81 EPS and FY2026 earnings at $1.78 EPS.

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded Macerich from a "sell" rating to a "hold" rating in a research report on Tuesday, March 12th. The Goldman Sachs Group increased their price target on Macerich from $9.00 to $13.00 and gave the stock a "sell" rating in a report on Thursday, January 11th. Piper Sandler increased their price target on Macerich from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, December 20th. Citigroup upgraded Macerich from a "sell" rating to a "neutral" rating and raised their target price for the company from $8.00 to $17.00 in a report on Friday, March 22nd. Finally, Truist Financial restated a "hold" rating and set a $16.00 target price on shares of Macerich in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.40.

Macerich Stock Down 1.7 %

MAC stock traded down $0.27 during trading on Thursday, reaching $15.91. 968,200 shares of the company traded hands, compared to its average volume of 1,981,865. Macerich has a 12 month low of $9.05 and a 12 month high of $17.69. The business has a 50 day simple moving average of $16.58 and a 200 day simple moving average of $14.00. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -12.53, a price-to-earnings-growth ratio of 1.82 and a beta of 2.33. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the business earned $0.53 EPS. Macerich's revenue for the quarter was up 4.6% compared to the same quarter last year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.27%. Macerich's dividend payout ratio (DPR) is -53.54%.

Insider Buying and Selling

In other news, Director Hern Thomas E. O sold 95,000 shares of the company's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the completion of the sale, the director now directly owns 102,900 shares in the company, valued at approximately $1,743,126. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total value of $1,609,300.00. Following the transaction, the director now owns 102,900 shares of the company's stock, valued at $1,743,126. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Edward C. Coppola sold 50,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,964 shares of company stock worth $2,940,030. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Macerich

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Macerich by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust's stock worth $532,000,000 after purchasing an additional 336,251 shares during the period. BlackRock Inc. boosted its stake in Macerich by 0.7% in the 1st quarter. BlackRock Inc. now owns 30,909,711 shares of the real estate investment trust's stock worth $327,643,000 after purchasing an additional 224,394 shares during the period. State Street Corp boosted its stake in Macerich by 6.3% in the 2nd quarter. State Street Corp now owns 14,327,975 shares of the real estate investment trust's stock worth $161,476,000 after purchasing an additional 855,355 shares during the period. Goldman Sachs Group Inc. boosted its stake in Macerich by 867.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,732,108 shares of the real estate investment trust's stock worth $98,411,000 after purchasing an additional 7,829,876 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Macerich by 3.1% in the 1st quarter. JPMorgan Chase & Co. now owns 6,716,461 shares of the real estate investment trust's stock worth $71,194,000 after purchasing an additional 203,180 shares during the period. 87.38% of the stock is currently owned by institutional investors.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.